CA AB2168

Requires Public Utilities Commission to post inspection and audit reports on its Internet website instead of furnishing them to the State Board of Equalization for property tax assessment purposes.

Establishes "balancing accounts" (renamed from "reserve accounts") that utilities must maintain when rates reflect specific cost changes, with the Commission developing a risk-based review approach to ensure transactions are for allowable purposes and properly documented.

Requires the Commission to maintain an inventory of balancing accounts and adopt review procedures that prioritize accounts with large balance differentials, high authorized revenue amounts, volatile fluctuations, or those not reviewed in three years.

Requires the Commission to annually update the Legislature on the status of its balancing account reviews, either through its annual report or on its website.

Allows the Commission to forgo reviewing balancing accounts if the Office of Ratepayer Advocates or independent auditors plan to review them.